cus COUNCIL

JUN 12 1978

Mayor and Council June 9th, 1978

L.D. Pollock
City Administrator

Re: PoCo Valley Golf and Country Enterprises Ltd. ~ Sale of Property

In line with Council's right of first refusal on the Colf Club, we
have now been notified of a further offer to purchase the Goif Course
from a Mr. Methven for a total price of $735,000. Notification was
received on the 16th of May and Council has 30 days from that date in
which to exercise the option to purchase.

In view of the fact:that there had been some interest expressed by
Coquitlam in the operation of the facility, a Committee of the three
Mayors has met. and has reviewed the offer and implications of the City
getting involved at this price. It has not been possible for the Committee
to have a final meeting due to the Federation of Canadian Municipalities
Conference, however, I understand that they will be meeting on Monday,
June 12th, and they will conclude their recommendations in time for
Monday night's Council meeting.

Details of the current offer to purchase are attached.

_-
ee
agin
oa

L.D. Pollock

LDP/w
attach: